Chase Ink Cash (Small Business) – Currently offering 30,000 points or $300 in cash back after spending $3,000 in three months; earns 5% cash back on first $25,000 spent at office supply stores, cellular phone, landline, internet and cable TV services; and 2% cash back on the first $25,000 on gas stations and restaurants. No annual fee.

Being Mindful About 5/24

Because of Chase’s rule restricting those who have a lot of new cards, you’d be unable to get any of these products (as of now) later in the game. My recommendation would be to make sure your first five cards are some of these specific Chase products – if you qualify, some of the above cards may be your best bet in terms of sign-up bonuses, earning structure, transfer abilities and perks and benefits.

Cash Back, Points and Transfers

If you notice, the Freedom, Freedom Unlimited and Ink Cash offers mention cash back. If you only have those cards, you can only redeem your Ultimate Rewards for cash back. But if you have a premium card with a fee (Ink Plus, Sapphire Preferred or Reserve) you can then transfer your points from the Freedom, Freedom Unlimited or Ink Cash to one of the fee/premium cards and onto the transfer partners.

7,003 Points are equal to $70.03 in cash back

While these points are being held on the no fee Ultimate Rewards earning accounts they are only good as cash back – but the ‘PTS’ or Cash Back can be transferred to my Sapphire (Preferred or Reserve or Ink Plus) at a 1 : 1 ratio.

Those points can then be transfer to the airline or hotel of choice.

Here’s an illustrated graphic.

You can transfer back and forth as many times as you want. If you are planning on cancelling one of the cards which have the ability to transfer points to airlines or hotels, be sure to hold them in a no fee card like the Freedom, Freedom Unlimited or Ink Cash.

Step 3: After selecting that, you’ll be brought to a landing page that shows all your Chase Ultimate Rewards earning accounts where you can select which account you’d like to view.

Step 4: After selecting the relevant account, notice the top navigation bar says ‘Use Points’ and ‘Earn Points. Hover over ‘Use’ and then select the second option from the top ‘Transfer to Travel Partners’

Step 5: Once arrived, you’ll be prompted to add travel partners. You need to verify your name and frequent flyer number. It is usually instantaneous and that will allow you to begin the process of transferring points to partners.

Bottom Line

Unfortunately the no fee options only provide you with a cash back option. However, coupled with a premium card like the Sapphire Preferred, Sapphire Reserve or Ink Plus you’ll have unlocked the ability to transfer your points to some very lucrative airline and hotel members.